Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) Receives $58.33 Average PT from Analysts

Shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERICGet Rating) have received an average recommendation of “Hold” from the twenty-one brokerages that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $58.33.

A number of research firms have weighed in on ERIC. Societe Generale lowered shares of Telefonaktiebolaget LM Ericsson (publ) from a “buy” rating to a “sell” rating in a research note on Monday, October 24th. StockNews.com raised shares of Telefonaktiebolaget LM Ericsson (publ) from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Redburn Partners began coverage on shares of Telefonaktiebolaget LM Ericsson (publ) in a research note on Monday, September 26th. They issued a “neutral” rating on the stock. Morgan Stanley began coverage on shares of Telefonaktiebolaget LM Ericsson (publ) in a research note on Tuesday, November 8th. They issued an “equal weight” rating on the stock. Finally, Oddo Bhf lowered shares of Telefonaktiebolaget LM Ericsson (publ) from an “outperform” rating to an “underperform” rating and set a SEK 60 target price on the stock. in a research note on Friday, October 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AGF Investments Inc. boosted its holdings in Telefonaktiebolaget LM Ericsson (publ) by 113.4% in the first quarter. AGF Investments Inc. now owns 4,325,000 shares of the communications equipment provider’s stock valued at $39,531,000 after purchasing an additional 2,297,972 shares during the period. BNP Paribas Arbitrage SNC boosted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 2,162.5% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 33,870 shares of the communications equipment provider’s stock valued at $194,000 after buying an additional 32,373 shares during the period. Credit Suisse AG grew its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 34.2% during the third quarter. Credit Suisse AG now owns 4,921,179 shares of the communications equipment provider’s stock worth $28,247,000 after buying an additional 1,252,947 shares in the last quarter. George Kaiser Family Foundation increased its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 16.1% during the third quarter. George Kaiser Family Foundation now owns 286,814 shares of the communications equipment provider’s stock worth $1,646,000 after buying an additional 39,876 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Telefonaktiebolaget LM Ericsson (publ) in the third quarter valued at approximately $1,847,000. Hedge funds and other institutional investors own 8.53% of the company’s stock.

Telefonaktiebolaget LM Ericsson (publ) Stock Up 0.3 %

Shares of NASDAQ ERIC opened at $6.10 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $6.04 and a 200 day moving average of $7.04. Telefonaktiebolaget LM Ericsson has a 12-month low of $5.16 and a 12-month high of $12.78. The stock has a market cap of $20.31 billion, a PE ratio of 8.47 and a beta of 0.49.

Telefonaktiebolaget LM Ericsson (publ) Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 30th were issued a $0.076 dividend. The ex-dividend date of this dividend was Thursday, September 29th. Telefonaktiebolaget LM Ericsson (publ)’s dividend payout ratio (DPR) is presently 20.83%.

Telefonaktiebolaget LM Ericsson (publ) Company Profile

(Get Rating)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides communication infrastructure, services, and software solutions to the telecom and other sectors. It operates through four segments: Networks, Digital Services, Managed Services, and Emerging Business and Other. The Networks segment offers radio access network solutions for various network spectrum bands, including integrated high-performing hardware and software.

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Analyst Recommendations for Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

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